Today, a nation’s prosperity in the global village is achieved through trade and commerce. As the proverbial walls have been torn down between nations, the ability to access products, services and investments between nations has eased. In this world, the integrity and quality of the finance function are paramount to achieving prosperity.
In this backdrop, professional accountants have become a sought-after breed. Today accountants are not just bookkeepers. They are managers, analytical thinkers and high self-monitors complemented by sincerity and dedication.
They form a collective group of highly talented global professionals who can reach their utmost potentials through their hard work and self-improvement. Their importance cannot be understated, because these bearers of integrity leave their imprint across all large organisations both in Bangladesh and abroad.
A Chartered Accountant (CA) in Bangladesh, like the rest of his peers all across the globe, is highly sought after not only by accountancy firms but also by MNCs, listed companies, public taxation departments and financial institutions.
The plethora of options for CAs are one of its biggest attractions, and unrivalled by any other industry. If you wish, you can be a management consultant helping strategise the direction of the business.
At other times, you will be an independent auditor examining financial statements at the end of the company’s fiscal year. These options are derived from the ability of CAs to see the business from a micro perspective with inbuilt analytical cognition.
CAs in Bangladesh are used by companies in their top-level management. They serve as financial controllers, chief financial officers, internal auditors, finance directors, chief accountants, vice presidents and even CEOs. They also serve on the boards of directors of companies not just because of their image as trustworthy, sincere and dedicated professionals but also for the insight they bring into the business process. After all, if you are a chartered accountant, you have already set your bar of expectations from others at extremely high levels.
To become a CA is not simply a choice; rather, one has to pass a rigorous examination process combined with practical experience. It will require commitment, self-improvement and technical accounting skills to pass through a chartered accountancy exam in Bangladesh. One of the toughest exams administered in this country, it requires a blend of many positive virtues.
You must be quick and neat with what you do, and your analytical skills must always be better than those beside you. You have to be able to cope with extremely complex problems, tight deadlines and must always see things through until the end.
Most importantly, you have to be ambitious, practical and dedicated. Once you set the bar this high for yourself and start working to achieve that ceiling, nothing can hinder you. The rewards after you pass the exams and become an established professional will be well worth the sacrifice. Have we mentioned the financial rewards? The compensation package you receive will be more fulfilling and lucrative than anything else!
The opportunities will also follow, and casting an eye across Bangladesh, we have seen CAs serving as elected members of the National Parliament and as ministers. Mohammad Saifur Rahman, the longest serving Finance Minister of Bangladesh, was a Chartered Accountant and one of the founders of Rahman Rahman Huq (currently KPMG Bangladesh), a premier accounting firm of the country.
AHM Mustafa Kamal, currently Planning Minister for the People’s Republic of Bangladesh and elected representative of Comilla-10, is an FCA besides being the President and CEO of the Bangladeshi conglomerate Lotus Kamal Group.
One misconception that needs to be cleared is that one does not need to be an accounting major at the undergraduate level in order to become a successful CA. According to AF Nesaruddin, FCA and Partner at Hoda Vasi Chowdhury and Co: “You don’t have to necessarily be a degree holder in accounting. You can be a finance, economics or any other business major, or even a mathematics student. What is more important is the ambition and the discipline. Once you have entrenched these qualities inside you, there’s nothing to stop you from becoming a chartered accountant.”
As a career with extremely high growth potential in today’s modern world, chartered accountancy can open horizons for you that not many other professional degrees can. Do expect to work hard though. To flourish in this sector, first you need to pass the chartered accountancy exams administered by the Institute of Chartered Accountants of Bangladesh (ICAB).
You will have to work at entry-level positions in recognised chartered accountancy firms like Hoda Vasi Chowdhury and Co, KPMG Bangladesh etc. It is only then, once you have done your time with due diligence, that you will be equipped to reach the top echelons and have success.
Next week we will be featuring an in depth analysis of the accountancy profession examining why young graduates are increasingly interested in pursuing this career through an interview with AF Nesaruddin.
